SEC is preparing for the possibility of a federal government shutdown

According to the recent announcement, the U.S. Securities and Exchange Commission (SEC) is currently preparing to deal with the possibility of a federal government shutdown, starting at 12:01 am on Saturday, December 21, when the current funding expires. The agency has confirmed that it will prioritize maintaining critical functions, including protecting the integrity of the market and protecting investor interests. Specifically, the EDGAR database system, used to track government filings, will continue to operate normally. However, the SEC will have to temporarily suspend some non-essential activities in the event of a government shutdown. Last Wednesday, the House postponed a vote on a bipartisan government funding bill, increasing concerns about the possibility of a government shutdown. In the context of the unstable Congress, the possibility of another government shutdown is possible. If this happens, thousands of government employees will not be paid during the holiday period, and some essential services, including food assistance, will also be disrupted. Only critical services, such as emergency operations, will continue to operate throughout the shutdown, although they will face many challenges. The SEC may have to postpone or suspend periodic reviews of many filed documents, including ETF approval applications. However, the agency can still continue to process cases related to fraud and market manipulation. In another development, SEC Commissioner Caroline Crenshaw, who has an anti-cryptocurrency stance, may leave the agency after the senators failed to vote on her reappointment earlier this week. The agency will be left with three Republican commissioners. Paul Atkins, who has a libertarian and crypto-friendly view, is expected to replace Gary Gensler as SEC Chair in early 2025. To maintain bipartisan balance, two Democratic commissioners will need to be appointed, but the likelihood of Crenshaw being one of them is very low. Disclaimer: This article is for informational purposes only and is not investment advice. Investors should do their own research before making decisions. We are not responsible for your investment decisions. Join Telegram: https://t.me/tapchibitcoinvn Twitter (X): https://twitter.com/tapchibtc_io TikTok: https://www.tiktok.com/@tapchibitcoin Annie According to U.today